Stock Worth Watching: Could Cinemark Holdings, Inc. Change Direction After Reaching 52-Week High?

Stock Worth Watching: Could Cinemark Holdings, Inc. Change Direction After Reaching 52 Week High?

The stock of Cinemark Holdings, Inc. (NYSE:CNK) hit a new 52-week high and has $56.27 target or 42.00% above today’s $39.63 share price. The 8 months bullish chart indicates low risk for the $4.69 billion company. The 1-year high was reported on Oct, 7 by If the $56.27 price target is reached, the company will be worth $1.97 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock last traded at $39.63 per share. It is down 20.27% since March 4, 2016 and is uptrending. It has outperformed by 12.23% the S&P500.

Analysts await Cinemark Holdings, Inc. (NYSE:CNK) to report earnings on November, 3. They expect $0.50 EPS, up 25.00% or $0.10 from last year’s $0.4 per share. CNK’s profit will be $59.17M for 19.82 P/E if the $0.50 EPS becomes a reality. After $0.46 actual EPS reported by Cinemark Holdings, Inc. for the previous quarter, Wall Street now forecasts 8.70% EPS growth.

Cinemark Holdings, Inc. (NYSE:CNK) Ratings Coverage

Out of 16 analysts covering Cinemark Holdings (NYSE:CNK), 10 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 63% are positive. $50.0 is the highest target while $33 is the lowest. The $41.02 average target is 3.51% above today’s ($39.63) stock price. Cinemark Holdings has been the topic of 33 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, August 12 by Wunderlich. Topeka Capital Markets maintained the stock with “Buy” rating in Wednesday, February 24 report. JP Morgan maintained the shares of CNK in a report on Monday, April 4 with “Overweight” rating. The rating was reinitiated by Credit Suisse on Monday, June 13 with “Neutral”. The firm has “Buy” rating given on Thursday, January 14 by Drexel Hamilton. On Monday, January 4 the stock rating was maintained by Stifel Nicolaus with “Buy”. The stock has “Outperform” rating given by FBR Capital on Wednesday, May 11. Topeka Capital Markets maintained Cinemark Holdings, Inc. (NYSE:CNK) rating on Monday, October 5. Topeka Capital Markets has “Buy” rating and $46 price target. On Tuesday, October 4 the stock rating was maintained by Wunderlich with “Buy”. The firm earned “Buy” rating on Friday, October 9 by M Partners.

According to Zacks Investment Research, “CINEMARK HOLDINGS Is a leader in the motion picture exhibition industry.Cinemark operates 408 theatres and 4,657 screens in 38 states in the United States and internationally in 12 countries, mainly in Mexico, South and Central America.”

Insitutional Activity: The institutional sentiment increased to 1.24 in Q2 2016. Its up 0.23, from 1.01 in 2016Q1. The ratio increased, as 27 funds sold all Cinemark Holdings, Inc. shares owned while 85 reduced positions. 37 funds bought stakes while 102 increased positions. They now own 97.80 million shares or 2.30% less from 100.10 million shares in 2016Q1.
Westpac holds 178,700 shares or 0% of its portfolio. The Kansas-based Waddell & Reed Fincl has invested 0.01% in Cinemark Holdings, Inc. (NYSE:CNK). Hodges Management holds 1.6% of its portfolio in Cinemark Holdings, Inc. (NYSE:CNK) for 902,977 shares. Capstone Asset Management Company, a Texas-based fund reported 9,862 shares. Honeywell Intl Inc has 235,000 shares for 0.22% of their US portfolio. Washington Trust Retail Bank has 0% invested in the company for 62 shares. Jefferies Gp Limited Liability reported 11,602 shares or 0% of all its holdings. State Bank Of Montreal Can reported 436,814 shares or 0.02% of all its holdings. Moreover, Allianz Asset Ag has 0.01% invested in Cinemark Holdings, Inc. (NYSE:CNK) for 525,708 shares. Ahl Limited Liability Partnership has 0.02% invested in the company for 7,860 shares. Cap holds 5.70 million shares or 0.06% of its portfolio. Manufacturers Life The has 237,481 shares for 0.01% of their US portfolio. The Illinois-based Front Barnett Assoc has invested 3.03% in Cinemark Holdings, Inc. (NYSE:CNK). Ngam Advsr Limited Partnership has 0.02% invested in the company for 34,451 shares. Citadel Advsr Limited Co owns 738,168 shares or 0.03% of their US portfolio.

Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 1 insider sale for $643,432 net activity. $643,432 worth of Cinemark Holdings, Inc. (NYSE:CNK) was sold by Fernandes Valmir on Wednesday, June 1.

More recent Cinemark Holdings, Inc. (NYSE:CNK) news were published by: which released: “Ex-Dividend Reminder: Cinemark Holdings, Scripps Networks Interactive and Time …” on August 25, 2016. Also published the news titled: “Cinemark Appoints Angelia E. Pelham as Chief Human Resources Officer” on January 15, 2016.‘s news article titled: “Cinemark Holdings, Inc. Reports Record Revenues of $707.2 Million and Adjusted …” with publication date: February 24, 2016 was also an interesting one.

CNK Company Profile

Cinemark Holdings, Inc. (Cinemark), incorporated on August 2, 2006, is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Firm manages its business in two divisions: United States markets and international markets. The international segment consists of activities in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia and Curacao. The Firm operates approximately 500 theatres and over 5,800 screens in the United States and Latin America. The Company’s United States circuit has approximately 340 theatres and over 4,510 screens in over 40 states and its international circuit has over 180 theatres and approximately 1,280 screens. It develops new platforms for its theatre circuit, such as XD, Movie Bistro, Cinemark Reserve, Luxury Lounger reclining seats, D-BOX seating, CineArts and other concepts. It plays mainstream films from various genres, such as animated films, family films, dramas, comedies, horror and action films. It offers content in both two-dimension (2-D) and three-dimension (3-D) formats in all of its theatres, and in select locations, it also offers a D-BOX format. The D-BOX format features moving seats and added sensory features in addition to the ultra-realistic images of 3-D technology.

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